Marex Group has strengthened its leadership by appointing Terry Hollingsworth as the Global Head of Futures Clearing Sales. In the role based in London, he will be responsible for business generations globally.
The appointment came as a part of Marex’s acquisition of the financial services unit of ED&F Man Group. The two companies initially agreed on the deal in August for a reported price of $220 million. Hollingsworth is one of around 125 London-based ED&F Man Capital Markets employees who either joined or will be joining Marex.
“We are adding a large number of new clients and some great people to Marex, which will result in a more competitive and resilient firm,” Marex’s CEO, Ian Lowitt, said earlier.
However, the takeover of the London unit of ED&F Man in October came as the deal's first phase. The acquisition of the remaining entities in North America, Hong Kong, the DIFC and Australia are still pending regulatory approval and are anticipated to be closed by the end of the ongoing year.
An Industry Veteran
At ED&F Man Capital Markets, the Hollingsworth Commercial Director for Futures and Options Clearing, has the responsibilities of management and development of the company’s all futures and options clearing desks. He joined the company in September 2019 as a Managing Director and the Head of Institutional Sales Listed Derivatives.
Hollingsworth is a financial industry veteran with around 26 years of experience working for several top companies. He started his career in 1996 at Merrill Lynch, joining the Wall Street bank as a Futures Analyst, and spent four years in the role. He spent the next decade working for ABN AMRO Futures and UBS as a Futures Clearing Manager and the ETD Regional Head of Clearing, respectively.
He spent another nine years at Citi. He joined the bank as the EMEA Head of ETD Clearing and climbed the ranks over the years to become the EMEA Head of ETD & OTC Clearing Solutions & Head of eTrading Distribution and then EMEA Head of Futures, Clearing & Collateral Client Executive Sales. He parted with the banking giant as the Global Head of Futures, Clearing and Collateral Client Executive Sales, according to his Linkedin profile.
